India's Siemens 1Q Net Profit Increases 15% On Year
February 11 2020 - 5:48AM
Dow Jones News
By Kosaku Narioka
Siemens Ltd. said Tuesday its first-quarter net profit rose 15%
from a year earlier thanks to greater earnings from its digital and
mobility businesses.
Net profit for the quarter ended December rose to 2.66 billion
Indian rupees ($37.3 million) from INR2.31 billion a year earlier,
the Indian unit of Germany's Siemens AG said. That matched the
estimate of INR2.66 billion from a FactSet poll of analysts.
Operating profit more than tripled for its digital-industries
business from a year earlier and its mobility business swung to an
operating profit, while that of its gas and power business dropped
52%.
First-quarter revenue decreased 4.9% to INR27.72 billion from
INR29.14 billion a year earlier.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
(END) Dow Jones Newswires
February 11, 2020 05:33 ET (10:33 GMT)
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